West Virginia Democrat. [volume] (Charles Town, W. Va.) 1885-1890, 1887-02-18
Amsterdam, &c, who have been boy
cotting West Virginia enterprise.

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Make it to the interest of these
people to turn into West Virginia
that 4Aow Of capital they are now
directing to Alabama, to the Terri
tories, and even to Mexico. They
can do SO, and they will do SO, if
payment of interest depends on the
development Of this State. The pop.
ulation Of Birmingham, Ala, in 1880
was $500, in 1885 it was $1,000.
It's taxable property in 1880 was
50, S46,s74, and in 1886 it was $ll,-
07o,619. The writer can point out
places in this State offering many
advantages over Birmingham. tits
known to the writer that the persons
interested in the Alabama debt were
the very ones most active to inhu-
ence capital to that State. The
same thing can be done here II we
act wisely.
There is another way to induce
capital to stop boycotting West Vir-
ginia. Our present basis of taxa
ton is (say) $l5o,OOO,OOO. Let the
Legislature agree to apply tax OF
(say) five cents on the 500, to be
devoted exclusively to paying inter-
est on the bonds, until per cent.
has been paid; all over 3 per cent.
to be applied to paying the princi-
pal. We can then say to the bond
holders:-"Send us capital to build
railroads and invest in West Vir-
ginia instead of in Mexico; tho
faster this State be developed the
sooner you will get your interest"
4. In our judgment, it is wise
thing for West Virginia to purchase
enough certificates (if they arc Of
fered cheap) to Offset our debt to
Virginia. We have always said, and
we say now, that these certificates
arc not obligatory on West Virgin
il. We owe Virginia and Virginia
owes the certificate-holders.
But we do owe Virginia for the
roads, bridges and other internal
improvements built before the war.
with Virginia bonds. The amount
we owe Virginia is to be determined
by stating the account provided for
in the Wheeling ordinance o. 1861.
Those who framed that ordinance
estimated that under its terms our
debt would be between five and six
millions. Sooner or later Virginia
must come to settlement with this
State. She cannot adjust her own
debt until she does. Demagogues
may pander to the prejudices and ig-
norance Of the masses in Va. for sew
eral years longer, but Reason will
eventually come back to her throne
and then Virginia will act intelligent
ly about her debt. When that day
comes, West Va. must pay. If we
own the certificates we can pay our
debt by turning them over to Va.
If we do not own them we must pay
as we can.
Again, five understand the prop
osition. this State is offered $4,000
600 of certificates, 1.-THE accrued
interest on which is abuot ST.
100000 more, F: Virginia would
then owe US the difference be-
tween $l5,000,000 and the amount
due by US under the Wheeling Or
dinancc. Hence, if we buy the GER
tificates instead of owing Va, that
State will owe US, aud the whole
wOrldIwill see that settlement would
be a benefit instead of an injury to us.
This is all we have either the
space or the time to say at present.
We have been obliged to express our
views hurriedly and briefly, but we
are very sure that they will be APP
proved by all who understand this
matter and who wish to see our
present home population receive
some benefit from the vast undevel-
oped wealth of this State. Unfortu-
nately, those interested to buy our
wild lands cheap, have so filled the
air with false ideas about our debt
to Virginia that the politicians gen.
orally are afraid to do what they
well know is best for this State, and
we have very little hope that the
Legislature will show itself equal to
the occasion; but the day is not far
distant when our people will dis
tinguish between the demagogue and
the statesman.